KORTA GROUP REDIRECTS ITS STRATEGY IN INDIA IN COLLABORATION WITH NRB INDUSTRIAL BEARINGS

Korta Group has sold 100% of its Indian subsidiary, Korta India Engineering Pvt. Ltd, to NRB Industrial Bearings Limited in an operation that includes a commercial representation and a technical assistance agreement and will allow Korta Group to boost its activity in that market.

Korta India, located in Bangalore, was created in September 2007 with the aim of meeting the growing demand for precision engineering components in India and foreign markets, specializing in the manufacture of ball screws for industrial sectors. It has supplied ballscrews to more than 150 manufacturing industries of Indian engineering products and foreign markets.

NRB Industrial Bearings Limited is an Indian company listed on the Bombay stock exchange, controlled by the Sahney family. Manufacturer of ball and roller bearings for the industrial sector, has several production centers in India and has among its customers OEMs and end users. It has a large commercial delegations and distribution network, as well as strong engineering support.

Korta Group founded more than 50 years ago, has specialized in the manufacture of high precision ballscrews for the machine tool, energy and automotive sectors, and, more recently, a growing research and development of new products for aeronautical applications.

The Corporate Finance area of ​​PKF Attest has advised Korta throughout the process of contact with the buyer, negotiation of the terms and conditions of the operation and final closure.